What was the firm taxable or pre-tax and income

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Reference no: EM131973065

Madison Metals recently reported $18,000 of sales, $8,000 of operating costs other than depreciation, and $4,000 of depreciation. The company had no amortization charges and no non-operating income. It had issued $4,000 of bonds that carry a 10% interest rate, and its federal-plus-state income tax rate was 40%. What was the firm's taxable, or pre-tax, income? (Note You are not asked to calculate the net income here; When enter your answer, please enter as a whole number, i.e., no decimal)

Reference no: EM131973065

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